Financial reporting ASB proposes a new way forward

April 2012 - A single standard of 250 pages to replace what has been described as an uncomfortable mish mash of accounting standards of different origin that lack cohesion or unifying principles, and count some 2,500 pages.

It's an attractive idea, but could it work? Brendan Sheridan takes a look at the latest proposals from the Accounting Standards Board.

Deloitte Ireland LLP is the Ireland affiliate of Deloitte NWE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). DTTL and each of its member firms are legally separate and independent entities. DTTL and Deloitte NWE LLP do not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.